An employee earned $50,000 during the year. FICA tax for Social Security is 6.2% and FICA tax

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An employee earned $50,000 during the year. FICA tax for Social Security is 6.2% and FICA tax for Medicare is 1.45%. The employer’s share of FICA taxes is

a. $0; Employee pay exceeds FICA limit.

b. $0; FICA is not an employer tax.

c. $725.

d. $3,825.

e. $3,100.

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College Accounting Ch 1-14

ISBN: 9781260904314

1st Edition

Authors: John Wild, Vernon Richardson, Ken Shaw

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Question Posted: Jan 23, 2024 12:00 PM

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An employee earned $50,000 during the year. FICA tax for Social Security is 6.2% and FICA tax

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College Accounting Ch 1-14

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